Data as of Oct 28, 2026.
SPY vs VUG: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPY returned +13.6% to VUG's +6.6%; 57% of their weight is in the same names.
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Net assets: $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust, and $232.9bn on Sep 30, 2026 for Vanguard Morningstar Growth ETF.
Pair scorecard
VUG costs 0.06 points a year less; their one-year returns differ by 7.0 points; SPY is 3.5 times larger.
| Measure | SPY | VUG |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.6% | +6.6% |
| Drawdown | ||
| Below its high | 4.1%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | S&P 500 Index | Morningstar US Large Cap Growth Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.03% |
| Net assets, as of Sep 30, 2026 | $809.2bn | $232.9bn |
| Holdings | ||
| Holdings in common | 57% | |
| Top ten holdings, share of the fund | 38.1% | 63.1% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Feb 6, 2004 to Oct 23, 2026 · 1,185 weekly returnsVUG returned more: +1,211.3% to +906.1%. SPY swung slightly less: 17.2% to 18.6%. VUG fell slightly less at its worst: −49.9% to −54.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SPY | VUG | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +906.1% | +1,211.3% | VUG | Price change plus distributions, reinvested. |
| Annualized | +10.7% | +12.0% | VUG | Total return as a yearly rate. |
| Price return | +564.0% | +938.6% | VUG | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.2% | 18.6% | SPY (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.2% | 12.8% | SPY (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −54.6% | −49.9% | VUG (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.57 | 0.60 | VUG (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.81 | 0.87 | VUG (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.20 | 0.24 | VUG | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,185 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPY and VUG hold 57% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
57% in common
Only in one fund ↓
Side by side
SPY and VUG on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPY and VUG do different jobs. What does each one do in a portfolio?
- What each follows. SPY follows S&P 500 Index and VUG follows Morningstar US Large Cap Growth Index.
- One-year total return. Over 1 year to Oct 28, 2026 SPY returned +13.6% and VUG +6.6% with distributions reinvested, a gap of 7.0 points.
- Number of holdings. SPY holds 504 positions and VUG holds 137.
Data as of Oct 28, 2026.
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SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
VUG
VUG tracks an index of US growth. Over the year to Oct 28, 2026 it returned +6.6% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 137 positions, with the top ten at 63.1%. It sat 4.1% below its high of Oct 6, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, SPY or VUG?
- In the year to Oct 28, 2026, with distributions reinvested, SPY returned +13.6% and VUG +6.6%.
- Which is cheaper, SPY or VUG?
- VUG is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SPY against VUG, data as of Oct 28, 2026. https://etfiq.com/compare/any/spy-vs-vug
ETFIQ. (Oct 28, 2026). SPY against VUG. Retrieved from https://etfiq.com/compare/any/spy-vs-vug
[SPY against VUG (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spy-vs-vug)
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